Some people think that the only way to have success in business is to have a unique product. What factors, do you think, influence the success of a company?

#people #success #business #product #factors #influence #company

To strive and be successful, it is very important for the company to have a product with some unique idea. But many people believe that it is the only principle of the successful business. I do not agree with

this

view as I believe that there are multiple other factors guiding a business to success. Having an artefact with unique and out of the box features is very beneficial for the firm. It is human tendency to develop curiosity for the new things available.

Firstly

, a new kind of product creates a buzz in the market and people buy it.

This

increases the sales and revenue of the organization.

For instance

, an organization called Mindfit launched a product called Fitbit, which is watch and

also

provides features

such

as heart rate calculator etc. People perceived it very well in the market.

Secondly

, a unique artefact creates a brand for the company.

For example

, Apple launched the iPhone, a mobile with very a good processor.

This

has now become the brand for Apple and a status symbol for the people.

However

, unique merchandise is not the only factor for an enterprise to succeed. Factors

such

as happy workforce and services of the firm are equally important. Happy workforce creates a fun environment for everyone which increases the productivity of the people. If employees are not happy

then

they will leave the company for other opportunities.

As a result

, the organization will lose out many of the efficient employees and will suffer to deliver quality goods.

In addition

, if the services of the enterprise are not up to the mark

then

customers will suffer.

This

leads to decline in the customer base of the firm and

hence

, the business suffers. As an example, Tupperware, produces plastic food containers, is successful only because of their services. They provide lifetime warranty on their goods and value their customers. To conclude, an artefact with strong features is surely very important to pave the path of success for the enterprise, but the value added by the factors

such

as happy workforce and services provided related to the goods etc., can not be ignored.

Sun Jan 26 2020

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Some people think that the only way to have success in business is to have a unique product. What factors, do you think, influence the success of a company?

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some people say History is one of the most important school subjects. Other people think that, in today's world,subjects like Science and Technology are more important than History. Discuss both these views and give your own opinion.